The United States, New Zealand & Mexico Issue Patent for New Allon Platform

The United States, New Zealand & Mexico Issue Patent for New Allon Platform

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3 Years : From Aug 2012 to Aug 2015

The United States, New Zealand & Mexico Issue Patent for New Allon Platform

VANCOUVER, Dec. 5, 2012 /PRNewswire/ - Allon Therapeutics Inc. (TSX: NPC) announced today that the United States, New Zealand and
Mexican patent authorities have each issued composition of matter
patents for a new family of peptides that the Company believes has the
potential to be developed to treat neurological and neurodegenerative
diseases.

This new platform is derived from a protein involved in the function of
microtubules that are critical to the correct structure and
communication of neurons in the brain. Individual peptides derived from
this platform have shown memory improvement in mice with compromised
cognition caused by the aggregation of the tau protein. One of the
main functions of the tau protein is to stabilize microtubules and
Allon's preclinical studies have shown that peptides from this new
family have the potential to inhibit tau aggregation.

"Microtubules are essential to brain function and therefore relevant to
a range of neurodegenerative diseases," said Dr. Alistair Stewart, Vice
President Commercial Research at Allon. "The strategy of strengthening
our pipeline in this area will have considerable value if this approach
is validated by our current pivotal study with davunetide."

These patents cover a family of peptides comprising an entirely new
class of compounds distinct from Allon's two existing neuroprotective
technology platforms, activity-dependent neuroprotective protein (ADNP)
and activity-dependent neurotrophic factor (ADNF). The company's lead
product candidate, davunetide, is based on ADNP.

Davunetide is being evaluated in a pivotal clinical trial as a potential
treatment for progressive supranuclear palsy (PSP), a rapidly progressing and fatal degenerative brain disease.
Patient treatment has been completed in the multinational pivotal phase
2/3 clinical trial, and the Company is on track to release top-line
data from the clinical trial in the second half of December.

This novel peptide platform is the product of a research program between
Allon, and its founding scientist Professor Illana Gozes, at Tel Aviv
University.

About Allon
Allon Therapeutics Inc. is a clinical-stage biotechnology company
focused on bringing to market innovative central nervous system
therapies. Allon's lead drug davunetide is proceeding in a pivotal clinical trial in an orphan indication, progressive supranuclear palsy (PSP), under a Special Protocol Assessment (SPA) with the U.S. Food and
Drug Administration (FDA). The trial is complete and on track to
analyse the data and release top-line results before the end of 2012.
This pivotal trial is based upon statistically significant human
efficacy demonstrated in patients with amnestic mild cognitive
impairment, cognitive impairment associated with schizophrenia, and in
positive biomarker data.

The Company is listed on the Toronto Stock Exchange under the trading
symbol "NPC".

Forward Looking Statements
Statements contained herein, other than those which are strictly
statements of historical fact may include forward-looking information.
Such statements will typically contain words such as "believes", "may",
"plans", "will", "estimate", "continue", "anticipates", "intends",
"expects", and similar expressions. While forward-looking statements
represent management's outlook based on assumptions that management
believes are reasonable, forward-looking statements by their nature are
subject to known and unknown risks, uncertainties and other factors
that may cause the actual results, events or developments to be
materially different from any future results, events or developments
expressed or implied by them. Such factors include, among others, the
inherent uncertainty involved in scientific research and drug
development, Allon's early stage of development, lack of product
revenues, its additional capital requirements, the risks associated
with successful completion of clinical trials and the long lead-times
and high costs associated with obtaining regulatory approval to market
any product which Allon may eventually develop. Other risk factors
include the limited protections afforded by intellectual property
rights, rapid technology and product obsolescence in a highly
competitive environment and Allon's dependence on collaborative
partners and contract research organizations. These factors can be
reviewed in Allon's public filings at www.sedar.com and should be considered carefully. Readers are cautioned not to place
undue reliance on such forward-looking statements. Similarly, nothing
in this press release is meant to promote a pharmaceutical product or
make a regulated claim of efficacy.